{"id":50773,"date":"2026-07-09T18:24:40","date_gmt":"2026-07-09T18:24:40","guid":{"rendered":"https:\/\/www.vtmarkets.com\/jp-asia\/uncategorized\/50773\/"},"modified":"2026-07-09T18:24:40","modified_gmt":"2026-07-09T18:24:40","slug":"%e7%b1%b3%e3%83%89%e3%83%ab%ef%bc%8f%e3%82%b7%e3%83%b3%e3%82%ac%e3%83%9d%e3%83%bc%e3%83%ab%e3%83%89%e3%83%ab%e9%87%91%e5%88%a9%e5%b7%ae%e6%8b%a1%e5%a4%a7%e3%81%a7s%e3%83%89%e3%83%ab%e7%9f%ad%e6%9c%9f","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/jp-asia\/live-updates\/50773\/","title":{"rendered":"\u7c73\u30c9\u30eb\uff0f\u30b7\u30f3\u30ac\u30dd\u30fc\u30eb\u30c9\u30eb\u91d1\u5229\u5dee\u62e1\u5927\u3067S\u30c9\u30eb\u77ed\u671f\u91d1\u5229\u306b\u4e0a\u6607\u5727\u529b\u3001MAS\u4f1a\u5408\u63a7\u3048"},"content":{"rendered":"

\u77ed\u671f\u30be\u30fc\u30f3\u306e\u30b7\u30f3\u30ac\u30dd\u30fc\u30eb\u30c9\u30eb\uff08SGD\uff09\u91d1\u5229\u306f\u3001\u6f64\u6ca2\u306a\u6d41\u52d5\u6027\u306e\u5c40\u9762\u304c\u7d9a\u3044\u305f\u5f8c\u3067\u3042\u3063\u3066\u3082\u3001\u4e0a\u6607\u5727\u529b\u306b\u3055\u3089\u3055\u308c\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3002\u904e\u53bb6\u56db\u534a\u671f\u306b\u308f\u305f\u308a\u3001SGD\u306e\u30d5\u30ed\u30f3\u30c8\u30a8\u30f3\u30c9\u306f\u3001\u7de9\u548c\u7684\u306aSGD\u8cc7\u91d1\u8abf\u9054\u74b0\u5883\u3068\u7c73\u30c9\u30eb\u5b89\u89b3\u6e2c\u306b\u5e02\u5834\u304c\u6163\u308c\u305f\u3053\u3068\u3067\u3001\u6291\u5236\u3055\u308c\u305f\u30d7\u30e9\u30a4\u30b7\u30f3\u30b0\u304c\u7d9a\u3044\u3066\u304d\u305f\u3002\u3057\u304b\u3057\u8db3\u5143\u3067\u306f\u3001SGD\u91d1\u5229\u304c\u7c73\u30c9\u30eb\u91d1\u5229\u304b\u3089\u4e56\u96e2\u3057\u3001\u4e21\u8005\u306e\u30b9\u30d7\u30ec\u30c3\u30c9\u306f\u62e1\u5927\u3057\u3066\u3044\u308b\u3002<\/p>\n\n

\u518d\u30d7\u30e9\u30a4\u30b7\u30f3\u30b0\uff08\u518d\u8a55\u4fa1\uff09\u30ea\u30b9\u30af\u306f\u30013\u3064\u306e\u8981\u56e0\u306b\u7d50\u3073\u4ed8\u304f\u3002\u539f\u6cb9\u4fa1\u683c\u306e\u4e0b\u843d\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u7c73\u9023\u90a6\u6e96\u5099\u5236\u5ea6\u7406\u4e8b\u4f1a\uff08FRB\uff09\u306e\u5229\u4e0a\u3052\u671f\u5f85\u306f\u7c98\u7740\u7684\u3067\u3001\u7c73\u30fb\u30a4\u30e9\u30f3\u9593\u306e\u7dca\u5f35\u518d\u71c3\u304c\u4e00\u591c\u306b\u3057\u3066\u539f\u6cb9\u3092\u62bc\u3057\u4e0a\u3052\u305f\u3002\u7c73\u30c9\u30eb\u3082\u3001\u8131\u30c9\u30eb\u5316\u306e\u7269\u8a9e\u304c\u5f8c\u9000\u3059\u308b\u4e2d\u3067\u5e95\u5805\u3055\u3092\u7dad\u6301\u3057\u3066\u304a\u308a\u3001USD\/SGD\u304c\u7d041.30\u3092\u4e0a\u56de\u3063\u3066\u63a8\u79fb\u3059\u308c\u3070\u3001\u4f4e\u4f4d\u306b\u3042\u308bSGD\u91d1\u5229\u306e\u898b\u76f4\u3057\u3092\u4fc3\u3057\u5f97\u308b\u3002\u52a0\u3048\u3066\u3001\u30b7\u30f3\u30ac\u30dd\u30fc\u30eb\u91d1\u878d\u7ba1\u7406\u5c40\uff08MAS\uff09\u304c7\u6708\u306bSGD\u540d\u76ee\u5b9f\u52b9\u70ba\u66ff\u30ec\u30fc\u30c8\uff08NEER\uff09\u306e\u50be\u304d\uff08\u30b9\u30ed\u30fc\u30d7\uff09\u3092\u518d\u3073\u30b9\u30c6\u30a3\u30fc\u30d7\u5316\u3057\u306a\u3044\u5834\u5408\u3001SGD\u91d1\u5229\u3092\u76f8\u5bfe\u7684\u306b\u4f4e\u4f4d\u306b\u3068\u3069\u3081\u5f97\u305f\u8981\u56e0\u304c\u4e00\u3064\u5931\u308f\u308c\u308b\u3053\u3068\u306b\u306a\u308b\u3002<\/p>\n\n

Widening USD-SGD Spread and Rate Repricing Risks<\/h3>\n\n

\u77ed\u671f\u306e\u30b7\u30f3\u30ac\u30dd\u30fc\u30eb\u30c9\u30eb\u91d1\u5229\u306b\u3064\u3044\u3066\u306f\u3001\u4e0a\u6607\u3059\u308b\u7c73\u91d1\u5229\u3068\u306e\u9023\u52d5\u304c\u5207\u308c\u3066\u3044\u308b\u70b9\u304b\u3089\u3001\u4e0a\u65b9\u5411\u306e\u5727\u529b\u3092\u8b66\u6212\u3057\u3066\u3044\u308b\u30022026\u5e747\u67088\u65e5\u6642\u70b9\u306e\u30c7\u30fc\u30bf\u3067\u306f\u3001\u7c73\u56fd\u306e3\u30ab\u6708SOFR\uff085.65%\uff09\u3068\u30013\u30ab\u6708\u8907\u5229SORA\uff083.60%\uff09\u306e\u5dee\u306f200bp\u8d85\u3078\u3068\u62e1\u5927\u3057\u3066\u3044\u308b\u3002\u6b74\u53f2\u7684\u306b\u898b\u3066\u3082\u5e83\u3044\u3053\u306e\u30b9\u30d7\u30ec\u30c3\u30c9\u306f\u3001SGD\u91d1\u5229\u304c\u9045\u308c\u3066\u8ffd\u968f\u3059\u308b\u5c40\u9762\u306b\u5099\u3048\u308b\u5fc5\u8981\u304c\u3042\u308b\u3053\u3068\u3092\u793a\u5506\u3059\u308b\u3002<\/p>\n\n

FRB\u306e\u5229\u4e0a\u3052\u671f\u5f85\u306f\u5805\u8abf\u3067\u3001\u5f15\u304d\u7d9a\u304d\u7c73\u30c9\u30eb\u9ad8\u3092\u4e0b\u652f\u3048\u3057\u3066\u3044\u308b\u3002\u5148\u9031\u516c\u8868\u3055\u308c\u305f\u30bf\u30ab\u6d3e\u7684\u306a6\u6708FOMC\u8b70\u4e8b\u8981\u65e8\u3092\u53d7\u3051\u3001\u5e02\u5834\u306e\u7e54\u308a\u8fbc\u307f\u3067\u306f2026\u5e749\u6708\u307e\u3067\u306b\u8ffd\u52a0\u5229\u4e0a\u3052\u304c\u884c\u308f\u308c\u308b\u78ba\u7387\u304c85%\u3068\u306a\u3063\u305f\u3002\u3053\u306e\u74b0\u5883\u4e0b\u3067\u306f\u3001\u5229\u56de\u308a\u306e\u4f4e\u3044SGD\u5efa\u3066\u8cc7\u7523\u3092\u4fdd\u6709\u3059\u308b\u9b45\u529b\u306f\u3001\u30b0\u30ed\u30fc\u30d0\u30eb\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u76f8\u5bfe\u7684\u306b\u4f4e\u4e0b\u3057\u3084\u3059\u3044\u3002<\/p>\n\n

Currency Dynamics and MAS Policy Outlook<\/h3>\n\n

\u7c73\u30c9\u30eb\u306e\u5f37\u3055\u3082\u91cd\u8981\u306a\u8981\u56e0\u3067\u3042\u308a\u3001\u7279\u306bUSD\/SGD\u306f\u73fe\u57281.3580\u3067\u3057\u3063\u304b\u308a\u3068\u63a8\u79fb\u3057\u3001\u5e74\u521d\u306b\u898b\u3089\u308c\u305f1.30\u306e\u6c34\u6e96\u3092\u5927\u304d\u304f\u4e0a\u56de\u3063\u3066\u3044\u308b\u3002\u901a\u8ca8\u30da\u30a2\u304c\u3053\u3046\u3057\u305f\u9ad8\u3044\u6c34\u6e96\u306b\u3068\u3069\u307e\u308b\u307b\u3069\u3001SGD\u91d1\u5229\u306b\u306f\u4e0a\u65b9\u3078\u306e\u518d\u30d7\u30e9\u30a4\u30b7\u30f3\u30b0\u5727\u529b\u304c\u5f37\u307e\u308b\u3002\u5f93\u3063\u3066\u3001\u30c7\u30ea\u30d0\u30c6\u30a3\u30d6\u306e\u30dd\u30b8\u30b7\u30e7\u30f3\u306fSGD\u91d1\u5229\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u306e\u30b7\u30e7\u30fc\u30c8\u306b\u614e\u91cd\u3067\u3042\u308b\u3079\u304d\u3060\u3002<\/p>\n\n

\u6700\u5f8c\u306b\u30012026\u5e747\u670828\u65e5\u306b\u4e88\u5b9a\u3055\u308c\u308bMAS\u306e\u653f\u7b56\u4f1a\u5408\u3092\u6ce8\u8996\u3057\u3066\u3044\u308b\u3002\u5f53\u793e\u306f\u3001MAS\u304c\u901a\u8ca8\u306e\u4e0a\u6607\u7d4c\u8def\u3092\u3055\u3089\u306b\u5f37\u3081\u308b\u305f\u3081\u306b\u30b9\u30ed\u30fc\u30d7\u3092\u518d\u30b9\u30c6\u30a3\u30fc\u30d7\u5316\u3059\u308b\u5bfe\u5fdc\u306b\u306f\u8e0f\u307f\u8fbc\u307e\u306a\u3044\u3068\u307f\u3066\u3044\u308b\u3002\u3053\u306e\u300c\u4e0d\u4f5c\u70ba\u300d\u306e\u53ef\u80fd\u6027\u306f\u3001SGD\u91d1\u5229\u304c\u4f4e\u4f4d\u306b\u3068\u3069\u307e\u308b\u4e3b\u8981\u306a\u7406\u7531\u3092\u4e00\u3064\u53d6\u308a\u9664\u304d\u3001\u56fd\u969b\u91d1\u5229\u74b0\u5883\u304b\u3089\u306e\u5727\u529b\u306b\u3055\u3089\u3055\u308c\u3084\u3059\u304f\u3059\u308b\u3002<\/p>\n\n\n\n

\u4eca\u3059\u3050\u53d6\u5f15\u3092\u59cb\u3081\u307e\u3057\u3087\u3046 \u2014 VT Markets\u306e\u30ea\u30a2\u30eb\u53e3\u5ea7\u3092\u958b\u8a2d\u3059\u308b\u306b\u306f\u3053\u3061\u3089<\/a>\u3092\u30af\u30ea\u30c3\u30af\u3057\u3066\u304f\u3060\u3055\u3044\u3002<\/b>\n\n<\/p>","protected":false},"excerpt":{"rendered":"

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